Dundee Precious Metals Inc T.DPM

Alternate Symbol(s): DPMLF

Metals & Mining Gold

Dundee Precious Metals Inc. is an international gold mining company. The Company assets includes Chelopech Mine, Ada Tepe Mine, Coka Rakita, Loma Larga, Tierras Coloradas and Timok. The Chelopech Mine is an underground copper-gold mine located in Bulgaria, approximately 75 kilometers east of the capital city of Sofia. The Ada Tepe Mine is a high-grade, open-pit gold mine located three kilometers south of the municipality of Krumovgrad in southern Bulgaria. The Coka Rakita prospect is located three kilometers southeast of its Timok gold project and is 100% owned by the Company. The Loma Larga is an underground development project. The Tierras Coloradas concessions consist of four exploration licenses totaling 6,955 hectares (70 square kilometer), located in the province of Loja in southern Ecuador, near the border of Peru. The Timok gold project is a sediment-hosted gold deposit located in the central-eastern region of the Republic of Serbia.

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Dundee Precious Metals Inc

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Post by BSdetector2016on Nov 11, 2021 6:12pm

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Post# 34117279

Dundee Precious Metals Announces 2021 Third Quarter Results

Third Quarter Financial and Operating Highlights:

Metals production tracking well to meet 2021 guidance – Produced 71,755 ounces of gold and 8.3 million pounds of copper. On track to meet 2021 metals production guidance;
Continued focus on cost performance at all operations – Achieved an all-in sustaining cost per ounce of gold(1) of $701 and a cash cost per tonne of complex concentrate smelted(1) of $393. Year-to-date all-in sustaining cost per ounce of gold of $621 was below the low end of the guidance;
Strong free cash flow – Continued to generate significant free cash flow during the quarter, achieving $41.0 million in cash flow from operating activities and $68.5 million of free cash flow(1);
Solid quarterly earnings – Generated net earnings attributable to common shareholders from continuing operations of $50.4 million and adjusted net earnings(1) of $52.5 million or $0.28 per share;
Growing financial strength – Ended the quarter with $269.5 million in cash and short term investments, an undrawn $150 million long-term revolving credit facility (“RCF”), as well as an investment portfolio of $48.5 million and no debt;
Returning cash to shareholders – Declared third quarter dividend of $0.03 per common share payable on January 15, 2022 to shareholders of record on December 31, 2021 and repurchased 1,571,500 common shares under the Normal Course Issuer Bid (“NCIB”); and
Acquisition of a high-quality development project – Completed acquisition of INV Metals Inc. (“INV”) during the quarter, adding Loma Larga, a gold development project with robust economics located in Ecuador.